OppenheimerFunds Chairwoman Replaced

Bridget Macaskill, one of the most prominent female executives in the mutual fund industry, was replaced as chairwoman and chief executive at New York-based OppenheimerFunds Inc. John V. Murphy, the firm's president and chief operating officer, was named to succeed Macaskill.

Macaskill, who joined Oppenheimer in 1983 and became CEO in 1995, was known as a crusader who worked to encourage women to learn more about investing. The firm, which manages $120 billion in assets, did not disclose whether Macaskill was fired or left voluntarily.

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